From £10 To $16.5m - How The Open Prize Money Has Grown Through The Years

Although it’s the famous Claret Jug that all 156 players in The Open field are dreaming of lifting at Hoylake, there’s a decent amount of prize money up for grabs – $16.5m to be precise.

Prior to this year’s Open at Royal Liverpool, The R&A announced that the Champion Golfer of the Year would receive a record $3m first prize, which will be $500,000 more than Cameron Smith won at St Andrews at the 150th Open.

It’s the largest first prize (approximately £2.3m) in Open history, while the total prize fund represents an 18% increase from last year’s event.

First played in 1860, The Open is the game’s oldest Major Championship. Willie Park was victorious at Prestwick that year, but only received the satisfaction of beating his fellow competitors – no hard cash.

It wasn’t until 1864 that the winner was rewarded financially, Tom Morris taking home £6 for his victory at Prestwick from a total purse of £15.

Between 1864 and 1872 the first prize remained below £10; then, in 1873, it went above that mark to £11 for the very first time.

Here’s a look back at how prize money has changed throughout the history of the men’s Open Championship...

The Open Prize Fund Through The Years:

• 1860 – 0 Total Purse, 0 First Prize
• 1865 – £20, £8
• 1870 – £12, £6
• 1875 – £20, £8
• 1880 – Not known, £8
• 1885 – £35.50, £10
• 1890 – £29.50, £13
• 1895 – £100, £30
• 1900 – £125, £50
• 1905 – £125, £50
• 1910 – £135, £50
• 1915 – Not played (WWI)
• 1920 – £225, £75
• 1925 – £225, £75
• 1930 – £400, £100 *first time first prize reaches £100
• 1935 – £500, £100
• 1940 – Not played (WWII)
• 1945 – Not played (WWII)
• 1950 – £1,500, £300
• 1955 – £3,750, £1,000 *first time first prize reaches £1,000
• 1960 – £7,000, £1,250
• 1965 – £10,000, £1,750
• 1970 – £40,000, £5,250 *first time first prize exceeds £5,000
• 1975 – £75,000, £7,500
• 1980 – £200,000, £25,000
• 1985 – £530,000, £65,000
• 1990 – £825,000, £85,000
• 1995 – £1,250,000, £125,000
• 2000 – £2,750,000, £500,000
• 2005 – £4,000,000, £720,000
• 2010 – £4,800,000, £850,000
• 2015 – £6,300,000, £1,150,000 *first time first prize exceeds £1m
• 2020 – Not played (Covid pandemic)
• 2023 - $16.5m, $3m

It’s not all about the money, of course. Between 1893 and 1899, as well as £30 cash, the winner received the Gold Medal which was valued at £10.

Speaking ahead of this year's Open Championship, the thirteenth time it has been played at Hoylake, R&A CEO Martin Slumbers spoke about the prize money increase.

“Our aim is to ensure The Open remains at the pinnacle of world golf and we have almost doubled the prize fund since 2016,” he said.

"While we are seeing substantial increases in prize money across the men’s professional game, we are fulfilling our wider obligation to the sport by elevating the AIG Women’s Open, strengthening pathways in the elite amateur game and encouraging more people around the world to play golf. 

"We believe that getting this balance right is vital to the long-term future of the sport.”

Prior to the tournament, Slumbers also admitted that The R&A has not ruled out Saudi investment in The Open at some point down the line - so there's potential for the prize fund to keep growing.